Can't Sustain the Status Quo, page-10

Australia also has an economy that ranks 14th in the world, well in front of Saudi Arabia (18th) which according to Trump has just committed to buying USD 600 Billion of Armaments from the US. As if that 'fake news' is ever going to happen - that equates to almost a full year of their GDP.

Australia had two surpluses and the last budget had a paltry deficit of AUD 27.6 billion or 1% of its GDP. I think we can cope by shoveling some more iron ore onto boats bound for China. Maybe Greenland should follow our lead and start using its mineral wealth to pay off the deficit.